{"id":61460,"date":"2022-05-13T19:49:54","date_gmt":"2022-05-13T16:49:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61460"},"modified":"2025-09-05T12:18:05","modified_gmt":"2025-09-05T09:18:05","slug":"grayscales-gbtc-discount-to-nav-exceeds-30","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscales-gbtc-discount-to-nav-exceeds-30\/","title":{"rendered":"Grayscale&#8217;s GBTC discount to NAV exceeds 30%"},"content":{"rendered":"<p>On May 12, the GBTC trading discount to its net asset value (NAV) reached 30.79%, according to data from<a href=\"https:\/\/ycharts.com\/companies\/GBTC\/discount_or_premium_to_nav\"> yCharts<\/a>.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/3Uy_F6XYZYncTwka9FAGItg3qCJNijdK8RCpJhGVH4GVJJpvrc_VbjdZommCWjmcpLERQfdFZwA2jgfSkyIyEv3eehpaLlh13gId8M8adqpL7-Kw9cP9Pm7nlS0nC8Wibam6ukGzvDZ_6F0TOw\" alt=\"GBTC discount to NAV exceeded 30%\"\/><figcaption>Premium\/discount dynamics of GBTC to NAV. Data: yCharts.<\/figcaption><\/figure>\n<p>According to<a href=\"https:\/\/grayscale.com\/products\/grayscale-bitcoin-trust\/\"> \u0441\u0430\u0439\u0442\u0443<\/a> Grayscale, GBTC assets were valued at $18.3 billion at the time of writing.<\/p>\n<p>The reason for the NAV discount is the delay in approving <a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\"> application<\/a> to convert the Bitcoin Trust into an exchange-traded fund (ETF). Earlier, Grayscale CEO Michael Sonnenshein<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-makes-converting-its-bitcoin-trust-into-an-etf-its-top-priority\"> described this task as the firm&#8217;s top priority<\/a>. <\/p>\n<p>Plans to convert GBTC into an ETF <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-plans-to-convert-bitcoin-trust-into-an-etf\"> became known in April<\/a>. The fund would be an ETF whose underlying asset is the cryptocurrency itself, not a futures contract on it.<\/p>\n<p>In February 2022, the U.S. Securities and Exchange Commission (SEC)<a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-ruling-on-grayscales-bid-to-launch-a-spot-bitcoin-etf\"> delayed a decision<\/a> on Grayscale&#8217;s filings until July 6. To date, the regulator has not approved any application to launch a spot bitcoin ETF, but allowed futures-based funds on the first cryptocurrency from<a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\"> VanEck, Valkyrie Investments<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\"> ProShares<\/a>.<\/p>\n<p>Grayscale Investments<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-says-it-is-prepared-to-sue-the-sec-if-gbtc-is-not-converted-into-an-etf\"> said it was prepared to sue<\/a> the agency in the event of a denial. The firm also noted to the SEC that<a href=\"https:\/\/forklog.io\/sec-odobrila-fyuchersnyj-bitkoin-etf-ot-teucrium\/\"> \u043e\u0434\u043e\u0431\u0440\u0435\u043d\u0438\u0435 \u0444\u044c\u044e\u0447\u0435\u0440\u0441\u043d\u043e\u0433\u043e \u0431\u0438\u0442\u043a\u043e\u0438\u043d-ETF<\/a> \u043e\u0442 Teucrium is a basis for a similar decision on its own application.<\/p>\n<p>As reported, most Nasdaq financial advisers surveyed approved investments in a spot crypto ETF.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full stream of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 12, the GBTC discount to NAV reached 30.79%, according to data from yCharts.<\/p>\n","protected":false},"author":1,"featured_media":61461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[943],"class_list":["post-61460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-grayscale-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=61460"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61460\/revisions"}],"predecessor-version":[{"id":61462,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61460\/revisions\/61462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61461"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}